瞭望塔财经获悉，6月28日，上交所官网披露了江西红板科技股份有限公司（以下简称"红板科技"）的IPO申报材料，这家在PCB行业深耕二十年的技术型企 业正式向资本市场迈进。 瞭望塔财经发现，作为全球手机HDI主板13%市场份额的拥有者，红板科技在招股书中展示了自己在消费电子领域的竞争力。2024年，公司为全球前十大手 机品牌提供1.54亿件手机HDI主板，同时其柔性电池板和刚柔结合电池板供货量更是占到这些品牌出货量的20%。 然而在亮眼的技术参数背后，控股股东95.12%的绝对控制权、2023年净利润近乎腰斩的波动曲线，以及高度集中的客户结构，都成为红板科技IPO之路上待 解的难题。 1、技术突围，二十年磨剑的行业隐形冠军 2005年10月17日，江西吉安，叶森然创立了红板科技的前身。这位毕业于台湾海洋大学电子工程系的76岁企业家，将毕生积累投入到了印制电路板领域。二 十年深耕，公司已从一家地方企业成长为全球PCB行业第58强的技术领军者。 红板科技的核心竞争力在于其高密度互连板技术。公司掌握着行业领先的HDI板生产技术，其最小激光盲孔孔径可达50μm，芯板电镀层板厚最薄做到 0.05mm，任意层互连HDI板最 ...

日前，《每日经济新闻》记者跟随"活力中国调研行"采访团来到位于广东省惠州市的胜宏科技 （SZ300476，股价157.20元，市值1356亿元）总部，参观了生产车间，见证了PCB（印制电路板）的镭 射钻孔场景。 胜宏科技董事长陈涛在接受《每日经济新闻》记者采访时表示，整个AI产业链的发展都离不开PCB。尽 管中国PCB产值占全球56%，但高端产品的核心技术仍受限于芯片。"当芯片水平提升后，中国整个 PCB产业链的生产水平也将随之提高。" 蓝紫色火花在机械臂下接连闪烁，一大块板材在设备中匀速滑动，转眼间已被打上数十个细密盲孔。这 台镭射钻孔机一直在高速运转，最快时一分钟能打4万个孔。 从投产到上市仅用了7年，明年营收剑指200亿元 今年53岁的陈涛见证了中国PCB产业高速发展的历程。 出生于甘肃陇南的陈涛，17岁就投身军旅，退伍后一度端上"铁饭碗"。1995年一次广东出差的经历，让 他毅然放弃稳定工作，南下惠州闯荡。 2003年，陈涛瞄准PCB行业着手创业，所创立的胜宏科技从投产到上市仅用了7年时间。 PCB被誉为"电子产品之母"，拆解任何电子设备，其核心都离不开承载着密集电路与元器件的电路板。 "如果把电子产 ...

Core Viewpoint - Guangdong Junya Electronics Technology Co., Ltd. has experienced a decline in revenue and net profit for three consecutive years, with a reported loss in 2024, primarily due to challenges in the printed circuit board (PCB) sector [2][18]. Group 1: Financial Performance - The company's revenue from PCB products decreased from 2.34 billion yuan in 2022 to 2.08 billion yuan in 2024, reflecting a downward trend in profitability [2][16]. - The gross profit margin for PCB products dropped from 16.14% in 2023 to 9.30% in 2024, indicating significant pressure on margins [16][17]. - The company reported a total revenue of 2.20 billion yuan in 2024, down from 2.30 billion yuan in 2023, with a total cost of 1.99 billion yuan [16][19]. Group 2: Customer and Supplier Dynamics - The top ten customers for 2024 accounted for 32.43% of total sales, with significant changes in customer composition due to market conditions [2][6]. - Major customers such as Weichuangli and Souluan experienced order declines due to inventory destocking in the overseas photovoltaic sector and international trade impacts [2][6]. - The top ten suppliers accounted for 50.14% of total purchases, with changes driven by procurement strategy adjustments and supplier performance [6][7]. Group 3: Production and Cost Structure - PCB production volume decreased from 3.11 million square meters in 2023 to 2.97 million square meters in 2024, while sales volume also declined [8][12]. - The cost structure for PCB products remained stable, with direct materials accounting for 66.06% of total costs in 2024, up from 64.37% in 2023 [8][12]. - The average procurement prices for key raw materials such as copper foil and gold salt increased, contributing to higher production costs [11][20]. Group 4: Industry Context - The global PCB market is projected to grow, with a forecasted value of $73.57 billion in 2024, driven by demand in sectors like AI and electric vehicles [13][17]. - The PCB industry faces intense competition, with over 2,200 manufacturers globally, leading to price erosion and margin pressures [14][15]. - Despite a recovery in the PCB market, the company struggles with specific customer demand and competitive pricing strategies, impacting overall profitability [20].

（原标题：揭秘涨停丨封单资金超4亿元，这只个股被盯上） 据证券时报·数据宝统计，今日（7月4日），沪深两市主力资金净流出236.55亿元，其中创业板净流出 113.52亿元，沪深300成份股净流出67.58亿元。 涨停战场：森林包装封单资金超4亿元 从收盘涨停板封单量来看，森林包装封单量最高，有54.58万手；其次是金一文化、华银电力、韶能股 份，涨停板封单分别为31.45万手、23.58万手、21.48万手。 从连续涨停天数来看，柳钢股份、塞力医疗4连板，亚玛顿3连板，森林包装、金一文化、金安国纪等6 股2连板，其他还有华银电力4日3板。 以封单金额计算，10股封单资金超亿元，森林包装、金安国纪、霍普股份和华银电力封单资金居前，分 别为4.95亿元、1.5亿元、1.44亿元和1.44亿元。 造纸概念股森林包装连续两个交易日涨停。森林包装此前表示，公司深耕包装行业多年，在浙江南部建 立独特的地域优势、技术创新优势、完整的产业链优势、信息化集成优势、品牌优势都可能成为盈利增 长的驱动因素。公司将通过推进数字化转型，实施智能化生产；强化技术驱动，提升产品附加值；优化 成本结构，增强抗风险能力等方式来提升盈利水平。 ...

Core Viewpoint - Shenzhen Jingwang Electronics Co., Ltd. maintains a stable credit rating of AA, with a positive outlook due to its strong market position and product advantages in the PCB industry [4][8]. Company Overview - The company ranks 10th globally and 3rd among domestic PCB manufacturers in China, benefiting from a diverse customer base and broad application fields including automotive, communication technology, and consumer electronics [6][18]. - The company has a significant number of patents, with 30 new invention patents added in 2024, enhancing its competitive edge [6][18]. Financial Performance - Total assets increased to 203.41 billion RMB in 2024, with total liabilities at 172.31 billion RMB, reflecting a healthy financial position [4][21]. - Revenue for 2024 reached 126.59 billion RMB, with a net profit of 11.60 billion RMB, indicating growth driven by demand in data centers and automotive electronics [4][21]. - The EBITDA margin was 22.73% in 2024, although it experienced a slight decline due to rising raw material costs [21][25]. Market Position and Competitive Landscape - The company holds a strong market share in the PCB industry, with a focus on high-density interconnect (HDI) products, which are expected to see significant growth due to AI server demand [11][12]. - The PCB market is projected to grow, with a global market value of 73.6 billion USD in 2024, driven by recovery in the AI server and consumer electronics sectors [10][11]. Operational Environment - The company operates multiple production bases in China and is expanding internationally, with a focus on maintaining high capacity utilization rates [18][19]. - The PCB industry is facing challenges from high raw material prices and increased competition, which may impact profit margins [13][20]. Future Outlook - The company is expected to continue benefiting from its strong market position and diverse applications, although it must navigate potential cost pressures and external factors such as U.S. tariff policies [7][17]. - The credit rating agency maintains a stable outlook for the company, anticipating sustained business viability due to its leading position in the PCB sector [8].

截至2025年6月13日收盘，沪电股份（002463）报收于38.62元，较上周的35.43元上涨9.0%。本周，沪电股份6月13日盘中最高价报39.35元。6月10 日盘中最低价报35.81元。沪电股份当前最新总市值742.81亿元，在元件板块市值排名2/56，在两市A股市值排名190/5150。 本周关注点 机构调研要点 机构调研要点：800G交换机市场需求还是不错的 机构调研要点：泰国工厂泰国生产基地目前已小规模量产 相关ETF 500质量成长ETF 6月11日特定对象调研,实地调研 问：发展历程和经营策略简要介绍答：公司PCB产品以通信通讯设备、数据中心基础设施、汽车电子为核心应用领域。公司始终坚持实施差异化 产品竞争战略，依靠技术、管理和服务的比较竞争优势，重点生产技术含量高、应用领域相对高端的差异化产品。公司注重中长期的可持续利 益，定期报告中披露的前五大客户在2024年收入同比实现不错成长，公司努力保持行业头部客户的均衡，以实现可持续增长。公司需要准确把握 未来的产品与技术方向，在超高密度集成、超高速信号传输等方面持续加大技术和创新方面的资源投入，通过技术创新、均衡的多元化客户结 构、供应链韧性 ...